Twitter Promises to Stay in San Francisco — if City Gives Tax Break

It appears a sop to corporate blackmail does work.

The Examiner is reporting that Twitter fired off a letter to city supervisors earlier today, saying it will stay in San Francisco if the city signs off on a deal giving the microblogging giant a mega tax break.

“Twitter is committed to signing a lease that will keep the company in

San Francisco for six years and likely for a subsequent 10-year renewal

term,” the letter states.

This move packs the pressure on city supervisors, some who don't want to lose Twitter yet are still uncomfortable with the proposed deal. They have openly criticized it, calling the tax break a sop to corporate blackmail.

A new analysis from the city Controller's Office projects that if San Francisco retains Twitter, the city could realize as much as $54 million over 20 years — even with the tax break in place.

But as Supervisor Ross Mirkarimi astutely noted today, that report doesn't include how much money taxpayers would have to shell out for more police and bus service, both of which were included to sweeten the deal.

Tags: , , , ,

Related Stories